Getting Outsold

The first question we should ask ourselves after a big loss in a long sales cycle is, “Did I just get outsold?”

We tend not to hear that a whole lot from salespeople or sales managers. That would mean taking the blame.

It’s much easier to say the customer didn’t know what they were doing. Or that we were overpriced. Or that we were missing important features they needed. Or that we couldn’t meet their delivery timeframe.

But if we don’t take responsibility for the loss, how can we ever learn from it? We’ll make the same mistake over and over.

So, today, let’s unwrap that protective cocoon surrounding your ego and do some tough-love diagnosis. Let’s rip apart those excuses. Not only can you can handle it, you’ll become a much better rep for it.

Excuse #1: “But I sold the value!”

Did you? Or did you instead present potential value? Value is in the eye of the beholder and if they don’t see it, it’s not there. The best way to confirm value is by having the prospect articulate it in their words.

Excuse #2: “But we didn’t have the features our competitor had and the client needed them!”

If those features were so critical, why did you stay in the deal until the end? What made you think they were qualified? Just because they’re looking doesn’t mean we should be playing. Probe to find out why they’re important to the prospect, where they rank in the decision process, and if a work-around is sufficient. If the answer is “no” to all of those qualifiers, bow out and spend your precious time on better opportunities.

Excuse #3: “But we couldn’t deliver the modifications in their timeframe.”

Assuming you probed on the importance of the delivery date, they still felt it was critical, and you weren’t able to balance that negative with more positives, why again did you stay in this deal?

From this day forward…

If you want to get better, get rid of the “buts”. Rid yourself of the excuses. There are effective strategies and counterstrategies for every one of those situations. Use them.

And at the same time, there are deals that aren’t meant to be. The sooner you recognize when a deal is wired for the opposition, the better. Hit them with the strategies and if they don’t work, bow out. Losing early is much more preferable than losing late.

Until next time...

Bob